Page 41 - Fire Insurance Ebook IC 57

The Insurance Times

proportion of the policy may be defined as that
proportion of the loss as the sum insured under the
policy bears to the total sum total insured under all
the policies.

(ix) Subrogation condition- The insured's rights to obtain
relief/ indemnify are subrogated to the insurers , even
before they indemnify the loss. The condition also
provides that the insured shall, at the expense of the
company render help and assistance for enforcing
these rights against the other parties responsible for
the loss.

(x) Arbitration condition- The arbitration condition
provides -
(i) Any dispute or difference as to the quantum to
be paid under this policy shall independently be
referred to arbitration.

(ii) No dispute can be referred to arbitration if the
company disputes or denies the liability under the
claim.

Website: www.bimabazaar.com Call: 033-22184184 / 40078428 54

Copyright@ The Insurance Times. 09883398055 / 09883380339